BASF and Toda form JV specialising in cathode materials

BASF TODA Battery Materials was established with 66% equity from BASF Japan Ltd. and 34% from Toda Kogyo. The joint venture will conduct research and development, production, marketing and sales for a range of cathode materials, particularly NCA (Nickel Cobalt Aluminum Oxide), LMO (Lithium Manganese Oxide) and NCM (Nickel Cobalt Manganese) in Japan. These materials are used in lithium-ion batteries for the automotive, consumer electronics, and stationary storage markets. Internationally, the company will leverage BASF’s global network and reach to drive growth in the battery materials market, which BASF has identified as a key growth field for the future. Kenneth Lane, President of BASF’s Catalysts division, said, “BASF brings global strength in cathode active materials to this new venture, together with a 150-year history of innovation. We look forward to developing the business in Japan, which is a global leader in lithium-ion battery manufacturing and innovation.” Shigeru Takaragi, President of Toda Kogyo, added, “With the formation of this joint venture we are ready to respond in a flexible and timely manner to the globally expanding cathode materials market for lithium-ion batteries. BASF and TODA will combine and mobilize resources to take full advantage of our synergies so that we can provide more innovative solutions to meet customer needs and demands.”